1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
vova2212 [387]
3 years ago
14

On January 1, Year 1, the Starshina Company paid $25,000 for a photocopier with an estimated useful life of 4 years, and an esti

mated residual value of $5,000. The company uses the straight-line method. What is the amount of depreciation expense for Year 2?
Business
1 answer:
sladkih [1.3K]3 years ago
4 0

Answer:

The amount of depreciation expense for Year 2 is $ 10,000.

Explanation:

<u>Determine the rate of depreciation per year.</u>

Rate of depreciation = depreciation base/Useful life

Useful life = 4 years

Depreciation base = Acquisition cost - Residual/Salvage value

Depreciation base = 25.000 - 5,000

Therefore depreciation base = $20,000

Rate of depreciation = depreciation base/Useful life

Rate of depreciation = 20,000 / 4

Rate of depreciation = $ 5,000.

<u>Determine the amount of depreciation expense for year 2. </u>

Amount of depreciation expense = Rate of depreciation × Number years

Amount of depreciation expense = 5,000 ×  2

Amount of depreciation expense = $10, 000.

You might be interested in
WHO IS THIS ECHO PERSON? LIKE WHY ARE YOU GETTING RID OF MY STUFF??
Harman [31]

Answer:

no c

Explanation:

6 0
3 years ago
Read 2 more answers
Kingbird, Inc. has 10,600 shares of 9%, $100 par value, cumulative preferred stock outstanding at December 31, 2022. No dividend
Rina8888 [55]

If Kingbird wants to pay $420,000 of dividends in 2022. The amount of dividends that the common stockholders will receive is $133,800.

<h3>Dividends </h3>

Using this formula

Remainder allocation to common stockholders=[Total dividend – (Dividiend  in arrears + 2022 dividend)

Let plug in the formula

Remainder allocation to common stockholders=[$420,000 – (10,600×9%×100×2)+(10,600×9%×100)

Remainder allocation to common stockholders=[$420,000 – ($190,800+ $95,400)]

Remainder allocation to common stockholders=[$420,000 –$286,200]

Remainder allocation to common stockholders=$133,800

Therefore the amount of dividends will common stockholders receive is $133,800.

Learn more about dividends here:brainly.com/question/14076997

8 0
2 years ago
Cantrell Company is required by law to collect and remit sales taxes to the state. If Cantrell has $6,500 of cash sales that are
Mademuasel [1]

Answer:

Journal Entry

General Ledger                   Dr.          Cr.

Cash                                 $7,085

Sales Tax Payable                           $585

Sales                                                 $6,500

Explanation:

Sales tax is the amount of tax collected by the business on the taxable sales from customers on behalf of government and pay it to government after that. Sales tax will be included in the cash received from the customer and recorded as the payable for the business.

Sales Value = $6,500

Sales Tax = 9%

Sales inclusive of Sales tax = $6,500 x 109% = $6,500 x 1.09 = $7,085

8 0
3 years ago
Find the area of a rectangle with the length measuring 8 km and the width measuring 5 km.
Gnoma [55]

Answer:

The answer is <em><u>C. 40 km^2</u></em>

<em><u>8km*5km = 40</u></em>

A = L*W

L = 8 km

W = 5 km

7 0
3 years ago
A construction firm cannot obtain the necessary permits to begin building a shopping mall until it can show it either has or wil
Crazy boy [7]

Answer: Loan commitment or credit line

Explanation: A loan commitment refers to a promise under which the lender commit to provide a loan of a specified amount to the borrower. Similarly, a credit line refers to the amount of money that a credit card holder can use from that account.

In the given case, the construction firm wants to show that they can have necessary funding. Thus, they can use above tools to show that they have the back of banks in case of providing funding.

Thus, the correct option is C or D .

8 0
3 years ago
Other questions:
  • Delta Company sells bells to customers for $1 each. The variable cost to manufacture the bells is 10 cents. If the rattle depart
    15·1 answer
  • You need to have $32,000 in 14 years. You can earn an annual interest rate of 3 percent for the first 4 years, 3.6 percent for t
    8·1 answer
  • In certain industries, Japanese employers do not lay off workers. Therefore, they sometimes have excess supplies of goods that t
    9·1 answer
  • You are earning $40,000 per year as a branch manager at Dunkin Donuts. You are planning on leaving your job and going back to co
    12·1 answer
  • The slope of a demand curve is not used to measure the price elasticity of demand because
    11·1 answer
  • Daves Inc. recently hired you as a consultant to estimate the company's WACC. You have obtained the following information. (1) T
    9·1 answer
  • Listed below are a few transactions and events of Maxum Company. Employees earn vacation pay at a rate of one day per month. Max
    14·2 answers
  • For each of the following errors, considered individually, indicate whether the error would cause the adjusted trial balance tot
    14·1 answer
  • lander has a netflix account and loves to watch independent and international films. after each film that he streams, netflix cr
    11·2 answers
  • Requisitioning an OTC item to use for script fulfillment included
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!